Weekly Trading Forecast: Fed Leads Docket Loaded with Event Risk
The FOMC policy announcement leads a loaded docket of top-tier event risk including rate decisions from the BOE, SNB and BOJ as well as New Zealand GDP and Australian jobs data.
The US Dollar may extend last week’s late rally as the Federal Reserve sticks to its 2017 rate hike path aspirations while political jitters send capital fleeing from Europe.
The European Central Bank made another dovish attempt at this week’s ECB meeting, but a lack of follow-thru selling suggests that the bullish trend may not yet be done.
After dramatically underperforming expectations, concern over a weak mandate will plague the Conservatives and stir speculation over a “hard Brexit” outcome, neither of which are good for the British Pound.
The Australian Dollar could be doomed to struggle with a lack of obvious positives in a trading week which will open with AUD/USD already at quite-elevated levels.
The New Zealand dollar’s recent rally may be cooling off ahead of first quarter GDP figures on Wednesday.
Chinese Yuan Forecast:Yuan Looks to Fed, Chinese Investment for Direction
Next week, event risks from both the U.S. and China will be major drivers for the Dollar/Yuan rate.
Gold snapped a three week winning streak with prices reversing back below key slope resistance. Here are the updated targets & invalidation levels that matter into FOMC.
Bearish sentiment in the Oil market is rising as the US oil production is doing the same, which limits the best intentions and efforts of OPEC’s extended cut.
Equities Forecast: S&P 500, FTSE 100 Face CB Meetings; DAX to Follow Risk Trends
See what live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.
See how retail traders are positioning in the majors using the IG Client Sentiment readings on the sentiment page.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.